US Senate Finance Committee Submission–Richardson, Yates and Kish

This was written by Toronto lawyer John Richardson, University of Toronto professor Dr. Stephen Kish and (this is huge!) U.S. attorney Willard Yates. Mr. Yates’ involvement is significant because he retired from Office of Associate Chief Counsel (International) (ACCI), Internal Revenue Service after 31 years of service.

The 32 page comprehensive submission deals with everything from problems of citizenship based taxation to the financial and psychological costs of renouncing US citizenship. Despite the complexity of issues covered, it is quite easy to understand for most of us who have been around this issue for a while (although newbies may very well find it overwhelming and frightening).

The report is also posted at citizenshipsolutions.ca, John Richardson’s Canadian website designed to counsel US citizens abroad who find themselves having to live in a FATCA and FBAR world.

US citizens abroad are everyday people struggling hard to survive and live meaningful lives. You would like them. But, you must take the time to get to know them. If you knew them, you would know that they pay a variety (e,g. value added sales, employment, property, income) of significant taxes where they live.

From one comment on Brock to the post of this Senate Finance Committee submission. I think we can all relate.

Quote:
My friends, colleagues even family, do not have any idea how bad all this is. Nor would they imagine an individual like me could finally be brought to tears on something like this. I have been through a lot in my life and well this was it, the breaking of the back.
Unquote

My undying gratitude to John Richardson and Stephen Kish, who invited me to be part of Toronto’s first FATCA/US citizenship-based taxation Information session and for Willard Yates’ participation in this submission. Working with the committed people fighting this is awe-inspiring. I respect you all so very much.

Thanks, once again, for all you do for so many — many of whom have no voice to do this.